Enhtur B. is 27 years old, married, and has one child. The family lives in their own ger, a traditional Mongolian nomadic home tent, in Ulaanbaatar, the capital city of Mongolia. His wife works as a cashier in the library. Enhtur operates and manages a traditional shoe-making business. He has been making traditional boots called Buriad and sells them to the wholesale buyers at the Narantuul, the largest market in the city. He started his business in 2002 and has gained significant experience over the years. One day, he would like to own her own workplace. Enhtur is requesting a 2,000,000 MNT loan to purchase more supplies and materials for his shoe-making business.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.